Saudi Arabia has gone nuclear, threatening the petrodollar. Or has it? The report from Zerohedge via Reuters that Saudi Arabia is angry with the U.S. for considering a bill exposing OPEC to U.S. antitrust law is a trial balloon. The chances of the U.S. bill known as NOPEC coming into force are slim and Saudi … Continue reading The Ultimate Pivot: Saudi Betrayal of the Petrodollar
I sat down for an interview with Radio Sputnik Moscow this morning where we discussed China's new oil futures contract and the beginnings of the petroyuan trade. I touch on the coming financial and political crisis that will hasten the conversion of a portion of the world's trade to the Yuan at the expense of … Continue reading Interview – Radio Sputnik, the Petroyuan and the upcoming Dollar Bull Market
The latest trade figures on Chinese/Russian trade should be further warning to the U.S. that economic sanctions do not work. In May 2017 Russian and China agreed to increase bilateral trade to $80 billion by the end of 2018. Well, they’re a year ahead of schedule. The official figures for 2017 came in at $84.07 billion. … Continue reading Surging Russian-Chinese Trade Pressures Petrodollar
Last week, Venezuela announced it would develop a national cryptocurrency backed by its oil reserves, the Petro. Now there is a report that Russia is considering the same thing. Iran will likely follow suit. As of right now this is just a rumor, but it makes some sense. So, let’s treat this rumor as fact … Continue reading Oil Producers Turning to Crypto to Solve Sanctions Problems
I've got a new post up on the Private Blog at my Patreon discussing the latest news concerning Russia and Saudi Arabia. This is important stuff. You can join the growing group of Patrons to get access to the Private Blog as well as the Gold Goats 'n Guns Investment Newsletter by signing up here.
From my perspective, it looks like Qatar has stopped backing al-Qaeda in Syria (Jabhat al-Nusra) and the Saudis have stopped backing ISIS. The next step is for Qatar to end its relationship with Hamas. That will make both Trump and Putin happy.
Nothing will make the Saudis happy short of claiming Qatar’s gas fields for itself and destroying Iran.